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TAG Oil Ltd. V.TAO

Alternate Symbol(s):  TAOIF

TAG Oil Ltd. is an international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa. It holds an interest in the Badr Oil Field (BED-1), a 26,000-acre concession located in the Western Desert, Egypt, through a production services agreement (the PSA) with Badr Petroleum Company (BPCO). It is focused on BED-1 the re-completion and evaluation operations of the BED 1-7 vertical well. These initial operations are part of its phase I development program of Abu Roash F (ARF) reservoir in BED-1. The BED 1-7 well started oil production from the ARF reservoir. Its Field Development Plan (FDP), consisting of drilling 20 horizontal wells to be completed with multi-stage fracture stimulation, is focused on the east central part of the BED-1 concession area and contains OIIP P50 volumes of 178.3 million barrels and mean volumes of 179.0 million barrels. Its subsidiaries include TAG Energy International Ltd., CX Oil Limited, and others.


TSXV:TAO - Post by User

Bullboard Posts
Post by hsaber2on Jan 14, 2013 8:20pm
300 Views
Post# 20837343

Permits

Permits

The only thing I can assume is that apache encountered heavy resistance to permitting the wells that they feel that drilling permitts will not be granted. If that is the case then they will not need to spend money on the wells any ways.  Or they felt that they are being asked for lots of concessions to get the permits since they are a big company with lots of money & opting out might make things easier for tag & they can aka ways come back in

Bullboard Posts